04.24.20 $RCL, $MRNA, & $SPY

Nice little win on Royal Caribbean to the short side to wrap up the week. I struggled to execute a nice trade all week long so this felt pretty good.

Royal Caribbean looked week, as did the rest of the market, plus I've had a short bias on this name for a couple weeks now. It's also been trading on really consistent levels so I felt really good about trading it. When I first entered the trade I was giving it up to the high of day so it had enough room to work. When it was struggling to get over VWAP I doubled my position and moved my stop down to the $37 area. When it pushed back down to the low of the day I cleared 25% of my position, then 50% on the extension down. Because both of my buy-backs were in the same candle it didn't separate them and showed and average buy price, which is why I had to split them in the picture. On the next extension I cleared the last piece of my position. My final target was $35.00 even and it did push into that price so I'm a little disappointed I closed early but at the same time, it was still a really nice trade and a really nice win, all be it a small win because I sized down for the trade (because I haven't been trading well).

At the same time I was trading $RCL I entered a couple different positions in $MRNA. My brother has a long position in the stock so I've had it on watch just out of general interest. It made a really nice morning drive of a key level at $47.00 and when it came into the tradeline and VWAP, I got long with my stop just below. I stopped out in my first position. When it reclaimed VWAP I entered it again expecting a push up to $50 but when it showed weakness, I got flat. When it started rolling over I hopped in for a short position but I had work to do other than trading that I needed to focus on so I closed the position so I could focus my efforts elsewhere. That ended up being a lucky move because It put me basically even on the name, whereas I would have taken a loss had I stayed in the trade. 

This was really a nothing of a trade. I liked the push over $282.00 and jumped in but after I was in the trade I didn't like the risk I'd have to carry to see it through. I wanted to see if it could get up around $283.50, which it did, but from where I entered I'd have to give it room back to $281.50 because it hadn't tested $282.00 yet. I closed it out pretty quickly and was glad I did because $282 broke when tested, which would have made me uncomfortable and stopped me out. I should have waited to enter this trade until after the test.